Memphis football coach Ryan Silverfield has signed a new contract that runs through the 2028 season, the school announced Tuesday afternoon.

Silverfield has been the Tigers' coach since December 2019, when he replaced Mike Norvell. He's gone 31-19 in his time as Memphis' coach.

Silverfield's previous contract ran through 2025. This essentially added three years and a pay bump to that agreement. It's effectively a five-year, $12.25 million deal.

Under the previous contract , Silverfield's buyout if fired without cause was 60 percent of the money left on the deal. Those terms did not change in this new deal, according to a copy of the contract obtained by The Commercial Appeal through an open records request.

If Silverfield were to leave for another job on or before Dec. 31, 2024, he would owe Memphis $1.5 million. That figure decreases to $1 million after Dec. 31, 2025, $750,000 after Dec. 31, 2026 and $500,000 after Dec. 31, 2027.

Silverfield and Memphis officials have been negotiating an extension throughout the offseason. Athletic director Laird Veatch said last month that the two sides were "getting really close." Silverfield signed the contract on March 27, while Veatch and university president Bill Hardgrave signed it next day.

Ryan Silverfield contract extension details

Silverfield's new contract will run through 2028, with his salary rising each season. He made $1.9 million in 2023.

• 2024: $2.2 million

• 2025: $2.25 million

• 2026: $2.5 million

• 2027: $2.6 million

• 2028: $2.7 million

Silverfield can also earn more with incentives up to $500,000. A nine-win season will increase his salary by $100,000, while a 10-win season and conference championship game appearance will raise his salary by $250,000.

He can earn $25,000 for a power conference win and $250,000 for a conference championship game win. He'd also earn $125,000 for a College Football Playoff appearance, $250,000 for a quarterfinal appearance, $325,000 for a semifinal appearance, $400,000 for a final appearance and $500,000 for a national championship.

Silverfield will also earn $25,000 for $5 million in ticket sales.

“It’s an honor and a privilege to be the head football coach at the University of Memphis,” Silverfield said in a press release. “I am excited and appreciative of the commitment to continue moving forward with the progress of our football program.”

Ryan Silverfield coaching history

Silverfield began his coaching career while he was still a student at Hampden-Sydney College. From there, he coached high school and college ball before getting hired by the Minnesota Vikings in 2008.

He met Norvell while he was briefly at Arizona State and reunited with him at Memphis. When Norvell left after the AAC Championship run in 2019 for Florida State, Silverfield was elevated to head coach.

Silverfield went 8-3 in a COVID-19-affected 2020 season, then followed that up going 6-6 (Hawaii Bowl was canceled) in 2021 and 7-6 in 2022. The Tigers had more success in 2023, going 10-3 and capping the season with an AutoZone Liberty Bowl win over Iowa State.

Memphis has high expectations going into 2024. Quarterback Seth Henigan is already the Tigers' all-time leading passer and will return for his senior season, while a slew of key playmakers on both sides of the ball will also be back. The College Football Playoff's expansion guarantees a spot for a team from the Group of Five, and Memphis will be among the most popular picks heading into 2024.

Reach sports writer Jonah Dylan at jonah.dylan@commercialappeal.com or on Twitter @thejonahdylan.

This article originally appeared on Memphis Commercial Appeal: Memphis football: Ryan Silverfield contract extension details